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and commitments as a condition of renewal/extension of this AGREEMENT upon expiration <br />of the initial term and any extensions. <br />2. Records Inspection, Examination and Audit. <br />OPERATOR acknowledges and agrees that CITY is empowered under this Agreement <br />to inspect, examine and audit OPERATOR's books and records (including tax filings and <br />returns), to ascertain the amount of operating fees due and owing. CITY or its authorized <br />agents shall have the power and authority to conduct a full inspection, examination and <br />audit of such books and records (including tax filings and returns) at any reasonable time, <br />including but not limited to, during normal business hours. In the event any such books, <br />records, tax filings and returns cannot be made fully available within the City of Santa Ana, <br />OPERATOR acknowledges and agrees that it shall reimburse CITY for the cost of all <br />transportation, lodging, meals, portal-to-portal travel time, and other incidental costs <br />reasonably incurred by CITY or its authorized agents in obtaining said full inspection, <br />examination and audit. In the event that said records inspection, examination and audit <br />determines that a net operating agreement fee payment deficiency of greater than Five <br />Percent (5%) exists; OPERATOR acknowledges and agrees that it shall reimburse CITY for <br />the full cost of said records inspection, examination and audit reasonably incurred by CITY <br />or its authorized agents. <br />3. Term. <br />This AGREEMENT shall start on the date indicated above and shall terminate on <br />December.31, 2022 regardless of starting date unless terminated earlier in accordance with <br />Section 9 or 10 of this AGREEMENT. <br />4. Business License Required. <br />A valid City of Santa Ana Business License is required for all persons engaged in <br />transacting and carrying on any commercial cannabis business activity in the City of Santa <br />Ana. It is unlawful for any person or legal entity to commence, transact or carry -on cannabis <br />business activity in the City of Santa Ana without first having procured a City of Santa Ana <br />cannabis business license. <br />5. Operating Commercial Cannabis Business. <br />OPERATOR shall not operate a commercial cannabis business authorized under the <br />Santa Ana Municipal Code unless: <br />A. It is the holder of a valid Regulatory Safety Permit issued by CITY in accordance with <br />the procedures and requirements of Article 1 of Chapter 40, of the Santa Ana <br />Municipal Code; and <br />B. At such time as the State of California requires cannabis business facilities and <br />businesses to hold a valid license or permit issued by the State of California, it also <br />holds such license or permit; unless, however, such permit or license is subsequently <br />not required by the State of California for the type of cannabis facility or business <br />operation that is the subject of this AGREEMENT. <br />E <br />